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Article
Publication date: 11 June 2021

Sohail Amjed and Iqtidar Ali Shah

The purpose of this study is to investigate long-run and short-run relationships between trade diversification, financial system development, capital formation and economic growth.

2635

Abstract

Purpose

The purpose of this study is to investigate long-run and short-run relationships between trade diversification, financial system development, capital formation and economic growth.

Design/methodology/approach

ARDL estimation approach is applied to analyze long-run and short-run relationships between the financial system development, capital formation, economic growth and trade diversification in case of the Sultanate of Oman over the period 39 years starting from 1979 till 2017.

Findings

The results show that financial system development and economic growth has a positive impact on trade diversification in the short-run and long-run. However, capital formation has a negative impact on trade diversification in the short run and long run. The negative relationship between trade diversification and capital formation implies that over the period of study, the investment in capital goods was made to enhance the production capacity of the oil sector to maximize revenue.

Research limitations/implications

This research is limited to analyze long-run and short-run relationship between the financial system development, capital formation and economic growth and trade diversification in case of Sultanate of Oman.

Practical implications

To achieve the diversification goal, the policymakers need to formulate policies to strengthen the financial system and invest in infrastructure development to promote the non-oil sector. The research findings of this study will provide insights to the policymakers to formulate an effective diversification policy.

Originality/value

This research contributes to the existing literature by providing empirical evidence of the short-run and long-run analysis of the selected variables in the context of an oil-dependent country.

Details

Journal of Economics and Development, vol. 23 no. 3
Type: Research Article
ISSN: 1859-0020

Keywords

Article
Publication date: 2 March 2012

Khalid Zaman, Iqtidar Ali Shah, Muhammad Mushtaq Khan and Mehboob Ahmad

The purpose of this paper is to identify major macroeconomic factors that enhance foreign direct investment (FDI) for Pakistan through the co‐integration and error correction…

3569

Abstract

Purpose

The purpose of this paper is to identify major macroeconomic factors that enhance foreign direct investment (FDI) for Pakistan through the co‐integration and error correction model over a 28‐year time period, i.e. between 1980 and 2008.

Design/methodology/approach

The study employed the Johansen co‐integration technique to estimate the long‐run relationship between the variables, while an error correction model was used to determine the short‐run dynamics of the system.

Findings

Finding suggests that FDI has had a significant positive impact on Pakistan's economic growth in the long run. For example, trade liberalization and their interactive terms have a positive effect in the short run, while a negative effect is observed in the long run upon economic growth of Pakistan. The results indicate that due to a low quality of human capital in Pakistan; the direct effect of FDI on economic growth becomes negative.

Research limitations/implications

The study was limited to a few variables, including human capital, trade openness, government size, population and consumer price index, in order to manage robust data analysis.

Practical implications

The authors find that for FDI to be a significant contributor to economic growth in Pakistan, government must focus upon improving physical infrastructure, and quality of human resources.

Originality/value

The study confirms that Pakistan did not enjoy substantial growth benefits from FDI because human capital, trade openness, government size and interactive terms of FDI and per capita income have a negative impact on economic growth. These findings have important policy implications.

Details

South Asian Journal of Global Business Research, vol. 1 no. 1
Type: Research Article
ISSN: 2045-4457

Keywords

Content available
Article
Publication date: 25 February 2014

95

Abstract

Details

South Asian Journal of Global Business Research, vol. 3 no. 1
Type: Research Article
ISSN: 2045-4457

Article
Publication date: 20 June 2018

W. James Jacob

With roots dating back to the early twentieth century, integrated rural development (IRD) is a term that became commonplace in international development circles in the 1960s and…

Abstract

Purpose

With roots dating back to the early twentieth century, integrated rural development (IRD) is a term that became commonplace in international development circles in the 1960s and afterwards. Based largely on a dual concept of helping to meet basic needs and improve the overall quality of life of poor people from rural and remote regions within national contexts, IRD initiatives have undergone a series of shifts in emphases, approaches and funding schemes. The purpose of this paper is to document the historical background and development of IRD initiatives over time.

Design/methodology/approach

The research design for this study included a series of mixed data collection methods, including case study examples of best practices, interviews and a thorough review of the formal literature, as well as an in-depth examination of alternative and multi-media literature (e.g. project reports, policy reports, government reports, working papers, newspaper articles, internet publications, etc.).

Findings

The findings of this paper are divided into the following sections. First, key terms of IRD are defined. Next, the background and overview of IRD is introduced including addressing how IRD is viewed as an approach to development, its historical evolution over time, some major IRD initiatives and the major development organizations engaged in promoting IRD. Third, an examination of several IRD models is introduced based on recommended methodologies, noting the sequencing of interventions important to successful IRD initiatives, select examples of IRD initiatives built on public-private partnerships, and the positive and negative outcomes and impacts from select IRD approaches.

Originality/value

The final section focuses on conclusions and seven key recommendations (or ingredients) outlined by the author as essential for implementing successful IRD initiatives: first, create an enabling environment that is conducive and supportive of IRD; second, establish a National Policy Framework for Integrated Development, which includes IRD; third, establish supportive policies and a legal framework that is based on the National Policy Framework; fourth, include two or more sectoral approaches in the initiative (e.g. agriculture, education, health, employment, infrastructure and industry, environment, etc.); fifth, garner participation and commitment from all stakeholders during each of the planning, implementation and evaluation stages; sixth, secure initial seed capital and funding and afterwards sustained funding streams; and seventh, conduct continual monitoring and evaluation throughout the lifespan of the entire initiative with specific adherence to the four key principles of good governance: coordination, information flow, transparency and accountability.

Details

Asian Education and Development Studies, vol. 7 no. 4
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 20 September 2022

Islam Elbayoumi Salem, Ahmed Mohamed Elbaz, Alamir Al-alawi, Nasser Alhamar Alkathiri and Zakaria Elkhwesky

This study aims to examine the role of eco-label hotel engagement as a pathway to sustainable practices via scouting entrepreneurial resilience and orientation at highly ranked…

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Abstract

Purpose

This study aims to examine the role of eco-label hotel engagement as a pathway to sustainable practices via scouting entrepreneurial resilience and orientation at highly ranked hotels in Oman. The authors developed and tested a novel model built on resilience theory, the theory of entrepreneurial orientation and the theory of reasoned action (TRA).

Design/methodology/approach

Data from 167 human resources directors, hotel managers and other employees were analyzed by partial least squares structural equation modeling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA).

Findings

Results indicate a strong positive relationship between entrepreneurial resilience and entrepreneurial orientation. Entrepreneurial orientation significantly increased all eco-label strategies, but not all strategies enhanced sustainable tourism practices. High adoption of sustainability practices depended on core strategies related to awareness, benefits, reputation and necessity, but the cost was also an issue. Managers adopted sustainability practices if they were not perceived as costly, or when perceived as costly if they believed they would help them reduce operating costs.

Practical implications

Policymakers should assist hotel managers when the sector is hit by political events, natural disasters or health crises such as the current pandemic can bounce back and develop their resilience. Likewise, training and workshops can be organized to improve managers’ entrepreneurial mindset, which was found to be a precursor to favorable attitudes toward sustainability.

Originality/value

This study tests a novel model built on three theories: resilience theory, the theory of entrepreneurial orientation and the TRA by using PLS-SEM and fsQCA.

Details

International Journal of Contemporary Hospitality Management, vol. 35 no. 2
Type: Research Article
ISSN: 0959-6119

Keywords

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